Semicon 2023: 'Come, invest in India,' PM Modi tells global chipmakers

Prime Minister Narendra Modi on Friday inaugurated Semicon India 2023, a national-level conference focusing on the semiconductor industry in Gandhinagar, Gujarat

At the conference, PM Modi expressed his confidence in India's potential to emerge as a reliable chip supplier on the global stage. The second edition of the conference commenced in Gandhinagar, Gujarat, attracting prominent leaders and representatives from various global semiconductor companies and startups.

Addressing the attendees, PM Modi emphasised India's capability to contribute significantly to the semiconductor industry's growth. He highlighted the rapid development driven by India's future aspirations, citing the reduction in extreme poverty and the widespread availability of affordable data connectivity reaching even remote villages.

"India understands that semiconductors are not just a national need but a necessity for the world," PM Modi said, emphasising the country's commitment to be a trusted chip supplier. He praised India's efforts in fostering a conducive chip-making ecosystem, supported by a stable, reform-oriented government.

Encouraging potential investors, the Prime Minister said that India has three significant advantages: its democratic system, large demography, and substantial dividend. He assured the audience that investing in India aligned with the nation's aspirations would yield substantial returns.

“Semiconductors not only our necessity; the world also needs a trusted and reliable chip supply chain,” said PM Modi.

To entice investors further, PM Modi highlighted India's competitive corporate tax rates and its streamlined taxation process. He mentioned that the government has offered special incentives to the semiconductor industry, extending a "red-carpet welcome" to stakeholders.

The growth of India's digital and electronic manufacturing sector was also lauded by the Prime Minister, noting the substantial increase in the country's share in the global electronic manufacturing sector from $30 billion to over $100 billion. He emphasised the significant boost in electronic manufacturing exports and the presence of more than 200 mobile manufacturing units in the country.

The conference witnessed the presence of representatives from major companies such as Micron Technology, Applied Materials, Foxconn, SEMI, Cadence, and AMD. During the three-day conference ending on July 30, experts in the fields of semiconductor chip, display fab, chip design and assembling, will gather from various corners of the globe to share their knowledge and perspectives on emerging opportunities in India

Semiconductor giant AMD at the conference, unveiled its ambitious investment strategy in India, aiming to infuse around $400 million over the course of the next five years to bolster its research, development, and engineering operations in the country. As part of this plan, AMD intends to construct a state-of-the-art campus in Bangalore, which will serve as the world's largest R&D facility for the company.

PM Modi also highlighted the recently-approved National Quantum Mission, which includes plans to introduce semiconductor-related courses in over 300 colleges across India.

The theme of Semicon India 2023, "Catalysing India's Semiconductor Ecosystem," aims to bring together global leaders from industry, academia, and research institutions to showcase India's semiconductor strategy and policy.

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